Certua, which empowers embedded finance, has partnered with specialist insurer Beazley to provide online placing platforms for small programme and scheme business.
Beazley will leverage Cetua’s Embedded Insurance platform to enable small scheme opportunities to be underwritten in an efficient and cost-effective way. This is for both brokers and insureds.
The first product from this partnership in the UK will be Beazley’s combined Medical Malpractice, Professional Indemnity and Public Liability product for small companies and individuals providing medical services. Plans are being developed to expand the range of products that Beazley will offer via Certua’s platform.
Certua CEO Tom Williams said, “Certua’s Embedded Insurance platform is designed to handle full cycle underwriting risk assessment and product administration, as well as provide a bespoke interface for scheme business.
“Our tailored platform maximises the benefits of technology for all parties in the placing chain, enabling a tailored user experience, reducing operational overheads, streamlining processing and increasing profitability for small scheme and programme business that has become increasingly difficult to underwrite profitably.”
Beazley has formed a number of partnerships this year. It recently adopted Insurity’s Sure Program Underwriting Distribution solution to grow its Lloyd’s book of business. In addition to this, it automated the distribution of its Personal Articles Floater (PAF) line of business in the US.
Copyright © 2022 FinTech Global